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Visa holds on to Indonesian market through ALTO partnership
The partnership would provide Visa with a debit card transaction processing center in Indonesia while allowing ALTO Network to benefit from Visa’s capability to provide security and efficiency.
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PT ALTO Network CEO Armand Widjaja (left) poses for a photo with PT Visa Worldwide Indonesia president director Riko Abdurrahman. As announced on June 10, the two companies have joined forces to process debit card transactions in Indonesia. (Courtesy of ALTO Network/-)
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lobal digital payment service provider Visa is collaborating with local switching company PT ALTO Network as part of Bank Indonesia's (BI) goal for all local transactions to be processed domestically.
The partnership would provide Visa with a debit card transaction processing center in Indonesia while allowing ALTO Network to benefit from Visa’s capability to provide security and efficiency.
“Visa has installed its system onto our [system], so we can ensure that every Visa debit card [transaction] will adhere to Visa’s international standards. We will also increase our capacity to accommodate the growing digital transaction [volume],” ALTO Network CEO Armand Widjaja said on Thursday.
PT Visa Worldwide Indonesia president director Riko Abdurrahman said Visa had been sharing its global standards for IT operations, cybersecurity and risk management framework to make sure ALTO could provide a world-class service.
He went on to say that by 2024, global losses from data theft could reach US$28 billion, which was why upgrading ALTO’s security capabilities was important.
“ALTO is the only Indonesian switching company that has earned the Payment Card Industry Data Security Standard [PCI DSS] certification, which not many companies are able to do,” Riko said.
The PCI DSS is a security standard for organizations that process payments through debit and credit cards.
